Your write up is EXACTLY how I've been removing my prop for years and it works great. Agreed on using a 6 point box wrench, 12 may work but not worth risking rounding off the prop. I know Sears sells a craftsman 6 point 1-1/16 inch wrench. Only think I do differenlty is I throw some duck tape around my vice just in case it break it will hopefully reduce pieces of metal flying through the air and injuring someone.